Videgaray to Be Mexican Finance Head as Pena Nieto Takes Power-Mexico Institute in the News

His most immediate challenges will be to overhaul the tax system and open the energy industry to more private investment.

“It’s absolutely a fantastic choice,” said Duncan Wood, director of the Mexico Institute at the Woodrow Wilson International Center for Scholars in Washington. “It’s recognition for all the hard work and it gives him a very powerful position in Mexico. I think markets are going to see that as a very positive step forward.”

One position Pena Nieto has yet to name is his ambassador to the U.S., Mexico’s top trade partner and its neighbor along a 2,000-mile border.